3 Penny Stocks on Reddit For Your November Watchlist
There are plenty of reasons that investors look for penny stocks on Reddit. And with how volatile the stock market is right now, there are also plenty of opportunities to make money with penny stocks mentioned on Reddit.
In the past year and a half, investing in both penny stocks and blue chips has become more social than ever before. With the advent of platforms like WeBull, investing is now open to more traders than in the entire history of the stock market. But, the result of this is a vastly heightened level of intraday fluctuations.
And in combination with this, speculation is extremely high. So, one of the ways that investors try to get ahead of this is by browsing Reddit for penny stocks to buy. If you’re not familiar, Reddit is a social media platform that allows people of all types to talk about topics ranging from investing to cats and everything in between.
Because so many investors use Reddit, it has become a go-to source for finding information on stocks to watch, stocks to avoid and so on. But, investors should also use caution as stocks mentioned online can move very quickly and by very large amounts. So, with all of this in mind, let’s take a look at three Reddit penny stocks to watch right now.
3 Reddit Penny Stocks to Watch Right Now
ContextLogic Inc. (NASDAQ: WISH)
If you do a lot of online shopping, you likely have heard of the platform that ContextLogic Inc. operates. ContextLogic runs the Wish platform which is offered on mobile devices and sells various products. Additionally, the company offers logistics and marketplace services to merchants. This app is accessible in many places including the Americas, Europe, and more.
On November 10th, Wish reported its third-quarter financial results for 2021 and provided a business update. During this quarter, Wish’s revenue decreased year over year. Its adjusted EBITDA and net loss went down during this period as well. In addition to this recent data, in the nine months ended September 30th, its net loss went up. While this is not the most encouraging news, we have seen the trends for online shopping begin to move up in recent months. And with a holiday season approaching, it could be worth keeping an eye on WISH;.
“During the quarter, we continued to implement our aggressive plan to make key strategic, operational, and structural improvements, which we believe will enable Wish to achieve its full potential. The foundation of that plan is to improve and maintain trust with our buyers, and to provide a differentiated and engaging buying experience.”
The Executive Chair at Wish, Jacqueline Reses
On November 11th, WISH stock is up over 7.6% in the market. Keeping this in mind, will WISH be on your list of penny stocks to watch?
ReWalk Robotics Ltd. (NASDAQ: RWLK)
ReWalk Robotics Ltd. is a penny stock that has been climbing during several recent trading sessions. If you’re not familiar, ReWalk is a biotech corporation that creates a range of medical devices. These devices are used for patients with mobility impairments or other medical conditions. Primarily, ReWalk produces wearable robotic exoskeletons. The company is involved in the design, development, and commercialization of these products. Some of its products are offered under the ReStore, MediTouch, and MyoCycle brand names among others.
On November 10th, the company reported its third-quarter financial results for 2021. The company reported total revenue of $2 million for this period. It also experienced a gross margin of about 58% in this quarter. During the quarter, ReWalk received FDA breakthrough device designation for its ReBoot product. ReBoot is a soft exoskeleton for stroke home and community use. This was a big deal when it was announced, and continues to bring new attention to the company.
“During the third quarter we have continued to demonstrate quarter over quarter growth and the results in Q3 2021 marks our highest quarterly revenue for the last 4 years. Growth came from personal ReWalk placements in Germany and with the placement of multiple systems at a U.S physical therapy university where Exoskeleton training is becoming a core part of the curriculum as this field moves towards being a standard of care.”
The CEO of ReWalk, Larry Jasinski
From November 4th to November 11th, RWLK stock has gone from $1.27 per share on average to $1.56 per share. This is a sizable move and could make RWLK stock worth adding to your list of penny stocks to watch.
SOS Limited (NYSE: SOS)
SOS Limited is a penny stock that has begun to see a small bullish turnaround following several days of less than stellar trading. This company offers data mining and analysis services to various sectors. Its marketing technology, solutions, and data are used for emergency rescue services, insurance companies, and more. On the other hand, its SOS cloud emergency rescue services SaaS platform offers products for medical rescue, auto rescue, financial rescue, and more. SOS also entered the cryptocurrency and blockchain sector, mining for crypto and offering blockchain-based insurance.
SOS Limited has been expanding its global footprint substantially in the last year. On November 9th, the company updated investors about the construction of its North American super-computing and hosting center. This new Wisconsin center is in Phase 1 of construction at the moment. It is expected to have power levels of 50MW fueled by renewable energy and grid power.
“The supercomputing and hosting center in Wisconsin is an important part of SOS’s efforts to create its own blockchain technology-based ecosystem. We look forward to launching our Super-Computing and Hosting service business in Wisconsin in the first quarter of 2022.”
The CEO and Chairman of SOS, Mr. Yandai Wang
It will be interesting to see the operating results from this center once construction is completed. For now, will SOS stock be on your penny stocks watchlist as this month continues?
Are Reddit Penny Stocks Worth Buying?
Finding penny stocks to buy on Reddit is extremely popular right now. Because so many traders utilize Reddit to communicate, there are hundreds of penny stocks being discussed everyday.
But as always, investors should do their own due diligence before investing, to avoid any unwanted volatility. Having information by your side will always put you one step ahead of the game. Considering all of this, do you think that Reddit penny stocks are worth buying or not?